Israel and the Palestinian militant group Hamas have put an end to 11 days of deadly violence. A ceasefire, mediated by Egypt, is now in effect. But there are fears both sides would retaliate if it is broken.
People poured into the streets of the Gaza Strip to celebrate.
Over the past 11 days, the fighting has led to a humanitarian crisis.
The Israeli government called the ceasefire "mutual and unconditional."
The Gaza Strip is controlled by Hamas. It vowed to continue its resistance.
US President Joe Biden hailed the ceasefire and promised to help reconstruct devastated areas.
Biden said, "I believe the Palestinians and Israelis equally deserve to live safely and securely and enjoy equal measures of freedom, prosperity and democracy. My administration will continue our quiet, relentless diplomacy toward that end."
The UN Secretary-General Antonio Guterres welcomed the news. He said, "I stress that Israeli and Palestinian leaders have a responsibility beyond the restoration of calm to start a serious dialogue to address the root causes of the conflict."
Egyptian state television reported that President Abdel Fattah al-Sisi said delegations will be sent to Israel and Palestine to monitor the ceasefire.
But the long-standing issues that led to these hostilities remain unresolved, including competing claims for Jerusalem.
Previous ceasefires have failed within days.
Since last Monday, at least 232 people were killed in Gaza and 12 were killed in Israel.